CIDISS. Indonesia will hold a grand meeting on October 8-14, 2018, namely the meeting of the 2018 International Monetary Fund (IMF) and World Bank (World Bank) in Bali. It is not easy to host the grand meeting. Indonesia at that time had to compete with other countries that were interested in becoming the host, until finally the majority of 189 member countries chose Indonesia.
The desire to host a grand meeting was of course vibrant in the members. Representatives from 189 countries, both decision makers in government and business will be present. The benefits for the host country are not only in front of them, but also in the medium and long term potential.
Infrastructure development in Bali through central government spending is only between real opportunities. Of course these expenditures will contribute positively to the economic growth of Bali Province.
Of course the benefits don’t stop there. There are 19,800 participants who will stay at least 9 days in Bali. The economic impact arising from the presence of the “top” community from all over the world has significantly boosted the level of flight services, lodging services, and food and beverage shopping.
Increased consumption, both for goods and services due to the IMF-World Bank annual meeting, of course, gives economic droplets to the people. The need for labor, both before the meeting and when meeting meetings and supporting activities increased compared to the previous days.
In the calculation of the National Development Planning Agency (Bappenas), the direct economic impact is estimated at Rp. 5.9 trillion. Among other things, comes from infrastructure spending of Rp. 3 trillion and expenditures from foreign and domestic visitors amounting to Rp1.1 trillion.
Of course the realization can be far greater than the Bappenas count. In addition to the delegation, it is also generally accompanied by a team, so that the multiplier effect on expenditure that will flow in Bali will be even greater.
This real opportunity for the Balinese and national economy is actually just a “periphery” or the other side of the outside of the meeting arena. There are at least 2,000 meetings that will be held in this important series of performances. No exception, in it is a business meeting.
Business people and foreign investors from abroad will negotiate with their partners, including from Indonesia in the spaces provided. Business transactions and agreements will be signed, so that in the medium and long term there is a chance to increase the national economy.
Thus, President Joko Widodo’s determination as stated at the 73rd Independence Day in the Parliament Building, August 2018, found momentum. He said, our economy must grow amid the ongoing world economic uncertainty. That is optimism with a sure footing. The IMF-World Bank annual meeting was one of the triggers.
The economic passion of this historic meeting can certainly be a positive influence on Bali’s economy. When the island economy grew positively, it eventually contributed to the national economy which is expected to be competitive amid global economic pressures.
By:M. Irfandi *)
